Brick-and-mortar retail businesses depend on a steady influx of buyers coming through the door. Attracting more customers and increasing retail foot traffic is crucial to boosting sales. The formula to generate more foot traffic is something all retail shops, from small boutiques to large chains, are constantly trying to perfect. Here’s a look at seven…
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As a small business owner, inventory is the most valuable and important asset of your retail store. Understanding this major line item on your balance sheet, and how to effectively manage inventory with POS inventory software is essential to surviving the first year of business and thriving in years to come. Inventory can be classified…
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Despite ongoing economic uncertainties, inflation, and labor shortages, the coffee and snack shop industry continues to recover as people return to in-person professional and social activities. In the US, roasted coffee revenue rose to $69.8 billion in 2022. That figure is expected to hit $83.6 billion by 2025. According to the National Coffee Data Trends…
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As the central hub for your convenience store, a point of sale (POS) system is essential to running your business efficiently and profitably. From quick transactions with personalized customer service to simplified inventory management with easy to monitor costs and margins, a convenience store pos system needs to be reliable and ready to grow with…
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Small businesses are vital contributors to the economy, but the “moms and pops” who run these establishments face many challenges. Fortunately, investing in the latest technology can make the lives of small business owners much more manageable. For example, traditional cash register systems are a thing of the past. In 2023, point of sale (POS)…
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How do you like your coffee? The staple beverage has become part of almost everyone’s morning routine, common ground for work breaks and social chats, and a guaranteed-to-please token of appreciation. With that kind of popularity, it’s no surprise that the $5.2 billion Canadian coffee and snack shop industry is expected to see a 2.5%…
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With a month into the new year, 2023 has yet to reveal what’s ahead in the world of retail. Rising inflation, supply chain disruption, and labor shortages were some of the challenges faced in 2022. Projected to continue well into 2023, the Canadian Federation of Independent Business confirms what we already know: “Although all companies…
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Understanding payment processing has become essential for liquor stores. While the COVID-19 pandemic led to decreased consumer spending across many retail sectors in Canada, it increased sales in liquor stores. Bars and restaurants closed, and the only place to purchase alcohol was liquor stores. The result was a 1.3% bump in revenues for the industry…
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The journey of opening a retail store involves hundreds of decisions. From formulating your business plan, to securing financing and licenses, to sourcing products and vendors, you may have already discovered how overwhelming the process can be. When you’re at the point of evaluating suppliers, there are a few tips to help you make the…
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As a new business owner, you have a vast array of technology solution options you can implement to streamline your processes. However, once you’ve developed your business plan, secured a location, and set a date for your grand opening, one of the next things you’ll need to do is invest in a quality point of…
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